Titan Wealth has announced that it has acquired investment research and consultancy firm Square Mile, subject to regulatory approval.

The acquisition encompasses the £2.6bn in assets under management (AuM) currently held within Square Mile’s MPS portfolios and will enable Titan Wealth to expand its low-cost MPS proposition.

Square Mile has a team of 21 research analysts covering UK retail funds, an investment management team responsible for Square Mile’s range of MPS solutions and its consultancy services for financial intermediaries and institutions. It will continue to operate under its own brand following the acquisition and its management and wider team will remain in place both supporting and being supported by Titan Wealth in achieving its ambitions.

Titan Wealth will also benefit from Square Mile’s broad industry relationships across the financial advice and asset management sectors.

The acquisition has taken Titan Wealth’s AuM to £12bn and strengthens the fully integrated client to custody solutions.

Joint CEO and head of M&A at Titan Wealth, Andrew Fearon, said: “Square Mile is a highly reputable business whose products and services integrate and align seamlessly with Titan’s. This latest acquisition further bolsters our aim to bring high-quality execution and administration to the asset and wealth management sector through our our client to custody solutions and services.”

Square Mile CEO, Richard Romer-Lee, added: “This acquisition represents a very exciting opportunity for our clients, the business and our team. The backing of Titan Wealth will help us strengthen and broaden our clients offerings, supports Square Mile’s long-term growth aspirations and opens new professional avenues for our staff within the broader group.

“Moreover, Titan Wealth and Square Mile have a close cultural fit with a client-centric approach and a focus on delivering superior customer outcomes and we are confident that this development will bring significant benefits to all.”

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